Warren Buffett promised $1M a year for life to any employee who gets the Sweet 16 right

Warren Buffett, multibillionaire CEO of Berkshire Hathaway, promised $1 million a year for life to any of his employees who can perfectly predict the Sweet 16 in the upcoming March Madness NCAA basketball tournament.

Buffett revealed the massive prize pool during a CNBC interview on Monday. There's also an extra $100,000 for whoever has the most perfect bracket among all Berkshire Hathaway employees.

This isn't Buffett's biggest prize. In 2014, Quicken Loans, a subsidiary of Berkshire Hathaway, offered $1 billion for getting an entire bracket correct. The odds of that are about 1 in 9.2 quintillion. No one claimed the prize.